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Alliance Trust AUM boosted by Aviva SRI acquisition

Alliance Trust Investments has seen its assets under management and advice climb to more than £1.7bn at the end of September, after completing the acquisition of the Aviva Investors socially responsible investing fund range.

The interim results of parent Alliance Trust revealed its own fund range contributed £578m of the £1.7bn total, with the investment trust itself contributing £420m in investments to the range.

The investment trust announced the acquisition of the SRI business in August.

According to Alliance Trust, the Aviva SRI funds are expected to be formally transferred and rebranded to Alliance Trust Investments at the end of January 2013.

Alliance Trust also believes it will still meet its target of making platform Alliance Trust Savings profitable on a recurring monthly basis by December.

“We believe that ATS is well positioned to benefit from changes that will come into effect as a result of the RDR as the platform is already RDR compliant and we will not need to make any changes to our business model in order to comply with the new regulations,” it adds.

The investment trust also reaffirmed its new portfolio investment strategy, led by head of equities Ilario di Bon, which will see its portfolio reduced to less than 100 holdings, down from 200 under the previous strategy.

It adds: “We have increased our exposure to North America, while reducing our exposure to Asia. We allocated £35m to Europe in late September as we believe that the valuations for many companies are now looking increasingly compelling.”


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